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I want to start a business with two partners. What is the best way to protect myself?

Our Professional Answer:

If you want to start a business with some other people, two, three, 10 people, you should consult with an attorney about the best form to put that business into. Often, people just begin the business, and that forms what the law considers a partnership. The downside is you’re all liable equally and completely for the debts of the business. It’s very important that you choose a business entity that will protect you from any mistakes or any liabilities of the business, and allow your business to grow in the way that you and your partners want it to.